Equity Alert
BLS Intl dn; foreign min bans co from ministry tenders for 2 yrs
This story was originally published at 10:18 IST on 13 October 2025
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Equity Alert:BLS Intl dn; foreign min bans co from ministry tenders for 2 yrs
MUMBAI--1005 IST--Shares of BLS International Services fell sharply after the Ministry of External Affairs Saturday debarred the company from participating in tenders of the ministry and India Missions abroad for two years. The order for debarment was issued for allegations, including court cases and on complaints of applicants, the company said.
The stock touched INR 276.95, its lowest level since March 2024. It fell as much as 18% Monday, and over 21% over the last four days. At 0959 IST, shares of the company traded at INR 297, down 12%. The stock was the worst performer in the Nifty 500 index.
The company believes the debarment order will not have any significant bearing on its financial outlook. It said it would not affect existing contracts and these would continue as per existing terms. It said it has diversified its business portfolio over the past few years through new and renewed contracts with key government and institutional clients through a project from the Unique Identification Authority of India.
So far Monday, 10 million shares of the company have changed hands on the NSE, slightly lower than 10.04 million shares traded during the same period on Friday. (Simran Rede)
Equity Alert: Mkt falls Mon on weak global cues, India inflation print eyed
MUMBAI--0945 IST—Domestic equity indices opened lower Monday due to weak global cues as fresh trade tensions erupted between the US and China after the US administration imposed 100% tariffs on China. Heavyweights HDFC Bank, Reliance Industries and Infosys dragged down the Nifty 50 index, falling around 1?ch. Investors will keep an eye out for India's CPI inflation print for September, scheduled to be released later Monday.
CPI inflation in India likely fell to 1.5% in September, according to an Informist poll.
Interglobe Aviation and Asian Paints were among the biggest gainers in the Nifty 50 index, rising over 1?ch. Bajaj Auto and Bharti Airtel rose nearly 1?ch. At 0945 IST, the Nifty 50 index was down 0.2% at 25228.65 points and the BSE Sensex index was down 0.2% at 82316.57 points.
All sectoral indices were in negative territory with the Nifty Realty falling over 1%, the worst performer in the pack. Nifty Metal and Nifty Energy lost nearly 1?ch. Nifty Healthcare, Nifty Pharma and Nifty Media fell marginally in early trade. All broader market indices were also in red. Nifty Smallcap 100 and Nifty Smallcap 250 lost the most and were down 0.7?ch.
BLS International Services fell over 13?ter the Ministry of External Affairs debarred the company from participating in any future tenders of the ministry and India Missions abroad for two years. The stock was down for the fourth straight session, and was the worst performer in the Nifty 500 index. Reliance Power fell nearly 5?ter the Enforcement Directorate arrested Ashok Pal, the company's chief financial officer, under money laundering charges. Pal has also resigned from his post to cooperate with the ongoing criminal proceedings. CE Info Systems was the biggest gainer in the Nifty 500 index, rising over 8%. (P. Madhu Kumar)
Equity Alert: Emkay Global starts coverage on Tata Capital with 'add' rating
MUMBAI--0915 IST--Emkay Global Financial Services initiated coverage on Tata Capital with 'add' rating and a target price of INR 360, implying gains of just over 10% from the company's initial public offer price of INR 326 per share. Tata Capital is set to list on exchanges later in the day with trading in its stock to begin at 1000 IST.
The brokerage expects the company to benefit from the Tata brand and post a compounded annual growth of 24% in assets under management between 2024-25 (Apr-Mar) and FY28. Strong growth in the assets under management, along with better credit cost, are likely to push the company's earnings per share up by 30% annually between FY25-28, the brokerage said.
"TATACAP's reach, origination capabilities, wide range of offerings, and improved capital adequacy after the IPO would allow it to capture credit-demand uptick in the retail/MSME (micro,small and medium enterprises) segments over the medium term," the brokerage said. "Though the company has a higher share of fixed-rate liabilities than assets, in practice, the interest rate-cut cycle will see slower transmission on the asset front. Hence, the rate-cut cycle along with increasing share of high-yield assets and the fresh equity raise should enhance NIM (net interest margin) by 60-70bps to 5.8% over FY25-28."
However, the brokerage expects return on assets and and return on equity to be moderate at 2.2% and 15.4% by FY28, respectively. "The moderate return profile limits the scope of a re-rating over the near-to-medium term; stock returns will largely be led by BV (book value) compounding," it said. (Anshul Choudhary)
Equity Alert: Indices seen lower after US imposes 100% more tariffs on China
MUMBAI--0826 IST--Benchmark equity indices are likely to fall Monday after US President Donald Trump late Friday announced 100% tariff on import of goods from China, in addition to the existing 30% duties levied on the country. These additional tariffs will be effective from Nov. 1 or sooner, "depending on any further actions or changes taken by China", Trump said. This came after Beijing expanded export controls on rare earth minerals last week.
These tariffs will be in addition to export controls on "any and all critical software" from Nov. 1, Trump said. Last week, China increased its export controls on rare earth minerals, which are vital for the production of several electronic items, semiconductors, motor vehicles, and fighter jets.
On the other hand, Trump Sunday said the "war is over in Gaza" as he headed for a high-stakes peace trip to Israel and Egypt. Speaking to reporters on Air Force One at the start of the "very special" visit, Trump brushed off concerns about the ceasefire and hostage release deal between Israel and Hamas, The Economic Times reported Monday.
At 0823 IST, the GIFT Nifty's October contract was at 25309.50 points, just 24 points higher than the Nifty 50's closing level on Friday. The Nifty 50 had settled at 25285.35 points on Friday, up 103.55 points or 0.4% from the previous session. The BSE Sensex ended at 82500.82, up 328.72 points or 0.4%.
Tata Capital will list on bourses Monday, with the issue price set at INR 326 per share, the upper end of its price band. The company's initial public offering, which closed Wednesday, was subscribed 1.95 times. Investors placed bids for 651.23 million shares against the 333.44 million shares on offer.
On the macroeconomic data front, the government will release retail inflation figures for September later in the day, followed by wholesale inflation on Tuesday. These readings will be closely tracked for signs of easing price pressures, which could influence the Reserve Bank of India's monetary policy outlook.
On the global front, the US indices fell Friday and those in Asia also traded lower Monday as concerns about a trade war between the US and China resurfaced. (Simran Rede)
Equity Alert: Indices seen lower after US imposes 100% more tariffs on China
MUMBAI--0810 IST--Chinese stocks fell sharply Monday due to renewed fears of a trade war between the US and China, which is expected to hit the economies of both countries. Indices in China and Hong Kong were among the worst hit in Asia, with the CSI 300 index down 1% and Hang Seng index down 2%. The equity market in Japan was shut for Sports Day.
US President Donald Trump Friday threatened to impose an additional 100% tariff on China from Nov. 1 after Beijing tightened rules on exporting rare earth minerals. Reacting to the tariff threat from the US, China's commerce ministry spokesperson Sunday said they were "not afraid" of a possible trade war and could introduce "countermeasures" to US tariffs, according to a report by BBC.
This raised fears of another trade war between the US and China, akin to that in April when both countries had imposed tariffs on each other to unprecedented levels. On Sunday, Trump tried to calm the situation and posted on Truth Social saying, "Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment".
While US futures were up 0.8?ter Trump's comment on Sunday, indices in Asia fell Monday. Stock indices in China, Hong Kong, South Korea, Taiwan, and Singapore were down 1-2%.
Following were the levels of key Asian indices at 0806 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4571.15 |
(-)0.99 |
|
Hang Seng Index |
25783.63 |
(-)1.93 |
|
KOSPI |
3575.62 |
(-)0.97 |
|
FTSE Singapore Straits Times |
3862.93 |
(-)0.96 |
|
S&P/ASX 200 Index |
8904.50 |
(-)0.60 |
(Anshul Choudhary)
Equity Alert: US indices slump Fri as US-China trade tensions resurface
MUMBAI--0731 IST--Major stock indices in the US saw a sell-off Friday as concerns about a trade war between the US and China resurfaced. Stocks slumped after US President Donald Trump threatned to impose 100% tariff on goods from China after Beijing put export controls on rare earth minerals, which are used to make several critical products such as electric vehicles, aircraft enginess, and radars.
Technology stocks fared among the worst, with shares of Nvidia, Intel, and AMD down 4-8%. Electric vehicle maker Tesla's shares slumped over 5%. Owing to this, the S&P 500 was down nearly 3%, its steepest single-day fall in five months.
"The second-largest economy and the first largest economy are arguing again, and we're seeing a sell first, ask questions later mentality to end the week," Ryan Detrick, chief market strategist at Carson Group in Omaha, was quoted as saying by Reuters on Friday. "President Trump's post did truly come out of nowhere, which opened the door for some extreme volatility."
On Friday, Trump announced the US would impose an extra 100% tariff on imports from China, along with export controls on "any and all critical software" from Nov. 1, Trump said, adding that the measures could be implemented sooner, "depending on any further actions or changes taken by China".
On Monday, futures contracts regained some lost ground with E-mini Dow futures up 0.8%, recouping almost half the losses made on Friday. Futures gained after Trump made another post on Truth Social, in an attempt on calm the situation, saying, "Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment".
"He (Xi Jinping) doesn't want Depression for his country, and neither do I," Tump added.
Following are the closing levels of US indices Friday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6552.51 |
(-)2.71 |
|
NASDAQ Composite |
22204.43 |
(-)3.56 |
|
Dow Jones Industrial Average |
45479.60 |
(-)1.90 |
(Anshul Choudhary)
End
US$1 = INR 88.73
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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